According to the Clean Energy Regulator (CER), there are now enough clean energy projects completed or under way to meet Australia’s 2020 Renewable Energy Target (RET).
Surging numbers of commercial and industrial solar power systems are also applying for accreditation, figures show. These plants are between 100 kW and 1 MW.
Around 130 MW of these projects are applying for accreditation in 2018. This is five times more than last year’s applicants.
Renewable Energy Target exceeded by over 150 MW
New renewable energy projects offering 6,553 MW of capacity are now under construction or already built, says the CE. This exceeds the 6,400 MW required to meet the 2020 RET.
An extra 1,454 MW of projects subject to power purchase agreements are also likely to be fully financed and under construction during 2018.
Large-scale solar helps meet 2020 Renewable Energy Target
The boom in commercial and industrial-sized solar power systems means more large-scale projects are being built than anticipated.
This could mean higher levels of large-scale generation certificates (LGC) supply than anticipated, CER claims. Existing and newly accredited large-scale solar plants are expected to generate around 24 million LGCs in 2018.
Looking ahead, at least 2,600 MW of new capacity is due to be accredited this year. A further 3,500 MW will receive accreditation in 2019.
Small-scale solar energy systems on the up
The number and size of small-scale solar panel installations has also continued to increase in 2018, CER figures show.
When compared with last year, 2018 has so far seen a 35 per cent increase in number of systems installed and 54 per cent increase in capacity.
If this trend continues, around 1,400 MW of solar capacity should be installed by the end of the year. This would be an increase of 29 per cent on 2017.
The average size of solar energy systems is also growing, with increases in residential installations between five and seven kilowatts.